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tv   [untitled]    August 6, 2011 12:00am-12:30am EDT

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just one of us thought it was the meat of its day and it's dealt a blow by a credit score and loses its hallowed three for a crown. israel gears up for another round of mass protests the biggest exactly as people rage against the government they say has abandoned the. army travel to russia's drastic park in the old fart you start a more regional where new breeds of dinosaurs were discovered. eight
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am here in the russian capital you're watching r t thanks for joining us now the united states prize talk aaa credit rating has been cut for the first time ever standard and poor's has dropped america's ranking to eight plus now the destructive force is the crippling debt which congress has struggled to agree on how to tackle with only an eleventh hour deal to raise the amount allowed s. and p. says it's not enough and falls far short of what's needed to stabilize the government's runaway for a way with the obama administration says the analysis is way off and will damage any recovery well let's see how that's going down elsewhere in the world are teaser for your street or is a nation's third largest economy n.d.o. which has seen its ready move in the opposite direction hi there are new news here what does the a downgrade of the world's biggest economy mean for asian trade. that's right the
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stocks here are it's humbling in india. a lot of people had a little bit more confidence after the debt ceiling decision was made just a few days ago but as i mentioned back then it was a cautious optimism people you know have been watching the situation very closely they're not too happy with the way washington has been dealing with it with even some chinese newspapers calling the entire to be immoral and irresponsible so this only further validates what they thought that the u.s. economy is not in good shape meter issues as far as united states unemployment and how to actually cut that two point four trillion dollars and they said they were going to cut still have not been made so over any even is that this rating on top of all of the other it beats and decisions that needed to be made in the past we have only caused a further worry over here really. seems so uncertain about america's financial
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potential. many things you know you've seen the dollar at some of the lowest ratings it's been in the past year which has caused a lot of people over here in asia to question whether we really should be using the dollar as the reserve currency a lot of people think perhaps we should look towards japan or china or something like that also asia has you know a very vested interest in what's going on in the united states they hold three trillion dollars of u.s. debt so what happens over there clearly affects what happens over here very greatly the unemployment situation there they don't think that these decisions that have been made in the past this week are going to do anything all of that and you know if americans don't have jobs they also aren't spending money and in many cases that means asian exports so really the confidence is low over here right now and it's not a great shock to many analysts who predicted at the beginning of the week that this the stalling of the stocks was potentially going to happen in the near future ok
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thank you very much for that update. reporting live there from india. our reaction and insight from america from george who is an expert in helping us firms expand internationally let's cross live to have it now thank you very much like mr coo for being on the program with us now is in the financial where it's all about confidence all about the market perception so how damaging is this a reduction in credit rating to america's reputation. well i think it's a blow. of course all the three rating agencies only sanjay or took the courageous move of making that downgrade despite congressional pressure and despite pressure from the white house. in the near term i'm not sure that they will actually have much of a influence on the financial markets but i think it's a very strong message hopefully it's a strong message to the politicians in congress as well as the white house that
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they're better deal with this problem seriously and map play politics isn't room i don't think it will have any impact on the markets this is a pretty big deal i mean to be triple a rating of the u.s. has made it in a position where u.s. treasuries for example are considered the safest in the world if you will so why would markets react badly from her perspective well i think partly because or mostly because. there isn't true there isn't any real wild bull. to investing in that dollar for those who are looking for safe investments all the other currencies whether it's a japanese yeah you know already you're a lot of others don't quite be the capacity to take it on. and. basically the u.s.
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has had such a long run that it's going to be very hard to switch out of it overnight i think you'll see a gradual. diversifying into other currencies i want the. us sorry mr cool i also want to go into the decision of a about simpy were saying that partly it had to do with what we were seeing in american politics when america finally decided on how to deal with its debt but it wasn't enough and that's what it's all decided to downgrade actually. if if a corporation were to behave like the way the american government has behaved they would have been downgraded a long time ago there wouldn't be any questions and no one would have with of raise any. doubts or make it fuss about it so the fact that the us government got downgraded is a is a very serious message which we hope. that the leaders in washington will take
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heat. from now and it's really it's really not a matter. can the u.s. afford to pay that debt because us it's always painted by printing more money that's been historically the case what's different about this time is that the members of congress choose to strongarm and hold the ceiling hostage to other issues other issues having to do with taxation and spending and title amendments and so on and so forth and they're not able to reach any cold on those other issues and therefore they decided to play chicken ok you know play brinksmanship on the air on the national debt and i don't think they fully appreciate that they're mean this group has done to christie to the united states
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and to the psychological feeling about the safety of their dollar i missing i'd like to bring in the word contingent in hearing market contains one comicon to what about with regard to printing things even all the agencies will follow ripple lowering the reading of the u.s. . well i think other agencies outside of the big three in other words the chinese rating agency for example have already downgraded. rating of the united states. you know the e.p.a. to pastry stairs and or moody's and fitch. basically half and aches on their face because of what they did in the financial crisis so. how would it be true thousand eight so what they are. what standards the poorest and empty and i mean just trying to sell which some of their integrity and reputation by making
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a move that is clearly i'm i feel are with their with washington ok right now we're going for the american people's arms and can just briefly what effect does this have on the an average american citizen. the mediately probably not much. but slowly if to the extent that this rating change will affect the cost of all right you know when that chills the then because the bar even the u.s. government will pass through will have a ripple effect on the consulate lowering for everybody and i think that will have a significant gantry it fair for the american economy but i am not enough of a macro economist to be able to say how when this is going to happen when the window actually takes place. for a year inside george to an expert on helping us economies form international partnerships. thank you now at renowned economist and richard wolffe told our team
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that americans for national recovery plan was doomed from the start. we've had twenty years of being told that our private enterprise economy is the royal road to success and prosperity forever then we had a crash of that system now we've had a recovery by a government that took care of the banks and insurance companies first and assured us it would trickle down it's not trickling down that's what these unemployment numbers mean that's what the increasing foreclosure of people being thrown out of their homes means and so on the stock market is finally the investment community itself realizing that this system is broken and there is nothing on the horizon to take it out and the anxiety that used to be among all the average people the vanishing middle class and all the people worried about government spending that
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anxiety is now spreading even to the top of the economy as they realize they've gone way too far and may have killed the goose that is laying the golden egg at least for the. well run small that for a man one giant a black hole for a government rater or a new york to ask what's the difference between our debt and those of our leaders. much worse for a government to be and why because we trust the government to do the right thing and they're doing absolutely the opposite of then we do you trust yourself to do the right being in live within your means i do mean dad so that i can pair off more views on why people and governments max out their credit and how to set things straight that's coming in a few minutes. at a painful balance a leak a top secret document shows british officers were encouraged in a way are how much the torture of prisoners pending on how much information they can get. of this content israel showing no sign of abating
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with protesters threatening a third weekend of social protests one tell of the street has already been renamed by some as tahrir square which was the site of egypt's uprising as artie's policia reports the number of protesters is growing steadily. places today saturday tens of thousands of protesters will be taking to the streets here in tel aviv as well as in civil other cities around the country where they'll be holding mass rallies against the government they're hoping to top of the one hundred fifty thousand nationwide who took to the streets last weekend this is the first saturday in the road that protests all be held they are united under the banner of the government has abandoned the people and the central message coming from organizers is that the people are taking the country that now the plan tonight is for demonstrators to more of what's top of all of the bridges often we came to the city has been
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established the final discrimination is not far from here at the curia defense compound and they will be holding a mass rally presenting a number of demands on the government open civil speakers civil populist singers also prisons in the last week there have been a number of smaller demonstrations that have been held for civil law was earlier this week taxi drivers blocked off a number of main roads they were protesting against the high cost of diesel which is also another protest among teachers university professors and students and they were united under the banner of mean education for you and another demonstration just yesterday we hundreds of parents with strollers took to the streets and they were protesting against the rising costs of the high cost of having children feeling as well the israeli prime minister. has been surprised by the massive supports all these demonstrations and his government is still struggling in terms of how to deal with them essentially what you can hear some people here in israel
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saying is that in the time yahoo was so obsessed with gathering intelligence for before to look from the mediterranean they missed the opportunity to see what was happening here words under his eyes to see on t.v. television. and on our website get more reports from archie's policy or right from the epicenter of the job and straight answer. in israel it's got to get attention all the protests activists and journalists say of bilby and no result because it weakens the pressure on israel's government to improve living standards report that r.t. dot com. let's go back to our top story where s. and p. has downgraded the u.s. its credit rating from a triple a two and a plot so let's get more insight from investor from asia and offer interim rogers
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thank you very much mr rogers for being out of program so as if he has downgraded you as many were saying that expected to happen too soon but what about now the other big agencies do you think we're going to see further downgrades. this united states has not been a aaa credit for a long time the only people who don't know that are browny are standard and poor's and moody's and u.s. government the united states is the largest debtor nation in the history of the world who cares what the rating agencies say we all know that it's no longer so it's no longer valid we don't pay attention to them they've been wrong about everything for ten years so why is it causing. such big moves or have i said we will wage there is no one really cares what the agencies say how important is how significant is this really it's not causing any news to me i could care less if i see you have to have something to report i know it's a weekend and things are slow who cares if i wouldn't pay any attention to it there must be better things to report in this everybody knows that the us is the largest
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debtor nation in the world this is not news this is old news but what about it being a safe haven a triple eight has had that decision for a long time making us treasuries for example a safe investment what would that mean for investors will markets be reacting to this it's not a safe haven anymore according to some of these ratings because three years ago it's standard poor's and moody's said that sub prime loans were aaa they had hundreds of sub prime loans that were aaa they said that ai g. was aaa and until the day it went bankrupt they said fannie mae and freddie mac. were trying to be aaa until they went bankrupt please these people have never been right why do you pay attention to me well let's just say i'll their investors who don't share your view for as i believe they still believe put the information safe you see sammy there are a lot of investors who do react to what agencies say what effect will this have on the asian economy but you say that i don't know any investors any real investors
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who pay any attention to these people anymore what effect will have on the asian economy no known whatsoever all the asians already know that america's got problems all of us are already moving out of u.s. government bonds everybody in asia knows that maybe the russians are the last people to know what the rest of the world knows the russians the u.s. government s. and p. and moody's ok supposing that logic you saying that on monday basically the markets will watch start climbing to stay the same. markets may go up may go down may collapse but doesn't it doesn't do this this is nothing to do with anything once have been going up u.s. government cars have been going up it all week knowing that this was coming and it was it was away from the aaa rating but let's go to this is a plunge we've been seeing recently this has been the sharpest since two thousand and eight and it does bring up bring back memories of the lead up to the international crash in two thousand and if you think there's going to be a second global recession oh absolutely we never got out of the first global
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recession unemployment in america is still higher than it was in two thousand and eight the american dead is skyrocketing going through the dead through the roof america's in worse shape now than it was before america spent a lot of money and the people who got that money are better off but the overall situation is much worse america's quote to quote it's dead america if you take in they consider the things that they guaranteed they printed huge amounts of money you know the world has gotten worse the world hasn't gotten better now they are going back to the i just want to ask you you dismiss the agencies but they do affect a country's borrowing costs right and surely that's got to mean something. i miss it but as i said anybody who pays attention to true book to the movies is wasting their time and if it's if it really is aaa while the chinese moving their money elsewhere why are the people moving their money elsewhere if everybody thought this was aaa it's paid aaa on paper no real in first or invest in us government bonds
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thinking is aaa they are we are the largest debtor nation in the history of the world mr i know you have to report something but this is what all new that's there's no bond investors what are they doing now will they be going it would have their their investments and certainly hands went up last week. ok and so they're still going to have the right. to keep their own investments ignore the united states is that we say oh america many people were still in burst in the united states government bond market it's the largest bond market in the world many people can tell you i mean double a trust it's not the end of the world or even single day it's not the end of the are really many people invest in single a bargain trip somebody vines of the world waiting for. us will go pop is no question we will either inflate great people back in worthless money we will inflate it away we will change the rules we will put an exchange controls of ensure
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the u.s. will depart that's why people are moving away from the u.s. government bonds because everybody knows that the u.s. is in serious trouble and the debt situation is getting worse and worse not better and better all right thank you very much for your insight there safer base investor and author john rogers thank you thank you. british intelligence services have allegedly been of violating international law for almost a decade lead to top secret documents suggest agents were permitted to use information taken from prisoners under duress overseas a lot of us are asked to balance how much they expected to take these to suffer against the value of the information they could get they were also given political protection from prosecution well human rights activists are demanding an open and fair inquiry with fear any questions will be back to the wall of silence as tara wall from amnesty international explains. and there are a few key reasons why the inquiry is unable to do its job properly and the first of these is the rather shocking level of secrecy that surrounding the inquiry and much
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of the inquiry is going to take place behind closed doors and no information will be released to the public without the say so of the government which is very worrying for an inquiry that's supposed to be getting information to the public about about what's been going on very much hope that they will see that there will still be an inquiry which is open and fair and transparent and i think if there is a full open inquiry and lessons are learned from that and the u.k. can restore its reputation in the world by then making sure that what it does in the future learns from the lessons apart. actually travel thousands of kilometers east of moscow but millions of years back in time. where the far eastern are more region it's a rich geology has an abundance of precious and valuable metals which is driving its industrial expansion but artie's alice here has met one team who track who's
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trashers lies out and called. this week the russia close up team is coming to us all week from the east and more region now to many this region's distinctive juice to its proximity to china and its sponsors of what materials and natural resources but one paleontologist and his team it's the ancient dinosaurs discovered deep within the ground here that will put this region firmly on the map. u.t. below is a man obsessed with potholes to a bygone age when dinosaurs rule based part of russia he may have been born in the country's name but still areas it's the far east untapped jurassic history in the a more wheelchair into which he has devoted his adult life there to restore her very near to this site has been known since about nine hundred forty eight with an unbelievable number of bones are buried here and i think will be digging for at
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least another two years or so they literally everywhere here we are no region is looking at one of the few functioning archaeological sites only here on the site boast of having produced a complete dinosaur skeleton that discovery made over a decade ago led to the recognition of a new breed of dinosaur a lot it's a ton or giant swan and twelve missile long have all found almost exclusively here and it was you the son who first stops at a fragment of tail bone sticking out of the father and son went on to make paleontology history evander sings followed in his father's footsteps it's painstaking work requiring patience and skill in equal measure one who discovers a wrong way we begin to remove the ground around it from a foreign. your hand and a show where a girl who are slow because zero can be more in the ground around it. it.
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exists. yuri and his team have been excavating this site for the past three years and already they found well over one thousand dinosaur bones approximately sixty five million years old but they believe that the bones of hundreds of more dinosaurs i get to be found within this small plot alone i'm told that these will most likely be fragments of another giant duck billed plant eater unique to the region and named in its honor they are more saurus is another previously undiscovered greek credited to team a lot ski which includes an italian also a scientist it was she who came up with both dinosaurs names as well as take in day to day charge of running the region's only well gee the burra tree and museum each new discovery mystique carefully catalogued and examines the aim is to inspire the next generation of dinosaur hunters was one ensuring the family's feats don't go
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one remembered either. here you can see a photo of your evil lot ski at the excavation site and here you see photos of i going to stores this is a skeleton of and while saurus will stray hooky recto isn't it and so learn from the follies of history as miles and this is charles marsh an american valiant ologist in one thousand nine hundred seventy he visited moscow and announced that there were no dinosaurs in russia and everyone believed him. luckily yuri belonged comes from a long line of scientists who chose to follow their own instincts and secure our most place in the history books as one of the world's foremost sites for paleontology it was there just terminations and no small amount of digging revealed a dinosaur jackpot alice had it r.c. regions. or if you or i get into the bank is on our backs without yet it's only now that america with those trillions is seeing its credit score decline while my talk
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show host laura harkness asking why americans are so keen on borrowing. why do you think so many people out themselves to get so far and that is the is the age that we live in everybody sees the person next door that they've got a brand new car that the lifestyle and that's what they want is so much advertising and people just wanted to spend money so i think that's the difference between americans and europeans but you have advertising in europe are you just you don't pay attention to it or. i think we pay less attention to it and we probably think a little more about what we need and what we can afford it's all about thinking yes i think so is it worse for you to be into personally that it is for a government to be in that. it's much worse for
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a government to be and why because we trust the government to do the right thing and they're doing absolutely we opposite of that we don't you trust yourself to do the right thing and live within your means i do but i'm in debt so to that i can pay it off debt is dead it's bad for governs best for individuals and the government should show leadership they got to clean it up do we really expect our government to get its act together if we can't get our act together for small families we can only hold individuals and the government will step up and make a difference whether or not you're in debt personally the bottom line is we've become a planet of debtors so it might be time for all of us to rethink what it is to live within our means. i'll be back with headlines in a few moments to stay with us for our team. the
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been limited to just simply.
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just spam. posts. wealthy british scientists. sometimes price. hikes. the markets succumb to find out what's really happening to the global economy for a no holds barred look at the global financial headline is to cause a report on our chief.

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